In a saucepan over medium heat, combine the corn syrup, margarine, cold water, confectioners' sugar and marshmallows. Heat and stir until the mixture comes to a boil. Carefully combine the hot mixture with the popcorn, coating each kernel.

Grease hands with vegetable shortening and quickly shape the coated popcorn into balls before it cools (your little ones will love this part!) Wrap with cellophane or plastic wrap and store at room temperature.

Now let those lil ones dig in and eat those delilicious treats they helped create from scratch!